exactly one month ago i warned all my subscribers to take action on their long term accts since the correction was on the way. we'll as of last week that came true. If you listened to me you would be hedged in some way to protect all these nice gains this year.
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Good Morning all
I wrote this past Sunday that the correction was on the way. Well we're in a full blown pull back here and have not seen the lows. "ALL" bullish percents have moved to O's and that means much lower prices on all the indexes as we move thru this negative time frame of the year. I am not going to write about what you should have done a month ago but suffice it to say it's going to get a lot worse before it gets better and by that time your holdings will be at their lows. That simply means you lost all those gains you fought for all year long in this incredible bull market, and here we have this carnage that will push these stock prices a lot lower, that pain will get almost unbearable. Hence that's why we daytrade and go to cash every night. I'm not saying you should not have a stock portfolio, and IRA's a 401k but i am saying you MUST rotate in and out of the markets as needed and not just sit there during severe drawdown's. I am here to at the very least give you a technical picture of your stocks then you can make up your own mind as to what hedge you can take to protect gains. Cash is a terrific position to be in when markets are correcting like this. We probably will get a nice bounce here off that heavy down day but then we'll resume the eventual downside move till it washes itself out. We are seeing pullbacks now on all index charts together and that's what we need to get this done as soon as possible. Just stay the course and hone your craft till you're making solid daily money. We have a slew of big cap earnings this evening headed up by AAPL. Last night AMZN killed the number again and guided way up, the stock is up 12-13 points as i write this and so are the futures. So we bounce today maybe tomorrow and then well see when we roll over again for the next big down move into cycle low dates July 30-31st. Class was good last night!
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QID---43.05 THE BTL---42.40 THE SST---FINALLY MADE A REVERSAL BACK UP ON THE P&F CHART SHORT IT TODAY AT THE 20
TASR---15.55 THE BTL---14.95 THE SST---WE LOOKED AT TASR LAST NIGHT IT'S RIGHT AT THE 20 EMA SHOULD MOVE HIGHER
CRNT---15.05 THE BTL---14.50 THE SST---MENTIONED IN IBD SECTION AND WAS UP NICELY YESTERDAY SHOULD GO HIGHER
RFMD---7.20 THE BTL---6.70 THE SST---CAME IN GOOD THE OTHER EVENING HELD WELL THRU THE CARNAGE MIGHT POP
EBAY---33.70 THE BTL---33.40 THE SST---SHOULD REALLY GET UP BIG TODAY OFF AMZN THE CHART IS IMPROVING
ZRAN---20.60 THE BTL---20.05 THE SST---HELD LIKE A ROCK IN THE SLAM HAD EXCELLENT EPS THIS WEEK I LIKE IT LONG
QCOM---43.40 THE BTL---42.80 THE SST---HAS EPS DATE THIS EVENING SHOULD DO WELL TODAY I LIKE IT LONG
AKAM---46.55 THE BTL---45.90 THE SST---HAS EPS TONIGHT SHOULD COME IN GOOD AND ACT GOOD DURING THE DAY
SNDK---57.40 THE BTL---56.80 THE SST---HELD LIKE A ROCK YESTERDAY OFF CRAMERS PUMP THE NIGHT BEFORE
SNCR---35.65 THE BTL---64.90 THE SST---SHOULD MAKE A BIG BOUNCE TODAY AHEAD OF AAPL'S EPS TONIGHT WATCHING
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LET'S WATCH THE TECHNICAL BOUNCE TODAY AND THEN LOOK FOR THE NEXT BIG DOWN DAY TO END THIS CORRECTION NEAR TERM. I LIKE THE ACTION, I LIKE THE LOOK OF THE CHARTS WE'RE STILL HANGING TOUGH DESPITE THAT UGLY DAY
SEE YOU IN THE ROOM SCALP QUICKLY TODAY
LATER
JERRY & INNA
Jerry Olson
The Jog Group LLC
jerryo34@verizon.net
